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SoftBank's Yahoo Japan confirms merger talks with Line, shares jump

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The Softbank-owned operator of search engine Yahoo Japan is in talks to merge with messaging app firm Line, a union that would create a group ...

TOKYO: SoftBank's Yahoo Japan, one of Japan's top internet firms, confirmed it is in talks to merge with Line Corp , a US$27 billion union that would bring the messaging app operator under the SoftBank umbrella in a major tech shake-up.

Line said in a statement it was true it is considering ways to improve its corporate value but nothing had been decided.A deal would bring together the operators of two of Japan's biggest QR code payment apps as the country belatedly shifts to cashless payments. SoftBank's PayPay recently hit 19 million users through aggressive marketing, while Line Pay can tap the 82 million Japanese users of the Line app.

 

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